#TrumpTariffs On May 12, 2025, the U.S. and China agreed to a 90-day reduction in tariffs to ease economic tensions: 

• U.S. Tariffs on China: Reduced from 145% to 30%. 

• China’s Tariffs on U.S. Goods: Lowered from 125% to 10%. 

This agreement led to a rally in global markets and a decrease in recession fears. However, the temporary nature of the truce leaves long-term outcomes uncertain.